Laura Pitts

New building to accommodate an additional 1,200 employees as part of long-term growth strategy

CHARLOTTE, N.C.(July 18, 2019) – AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions, announced today in a press conference the expansion of its Charlotte headquarters campus. The new, 201,000 square-foot facility on the AvidXchange Music Factory campus will allow the company to accommodate an additional 1,200 employees as part of the long-term growth initiative announced late last year in connection with its newly awarded North Carolina Job Development Investment Grant.

“The expansion of our headquarters signifies more than being a rapidly-growing fintech company. It represents the mark Charlotte is making as a center for innovation for other growing technology focused companies. The support we’ve had from the City of Charlotte, Mecklenburg County and our Music Factory community continues to make AvidXchange a great place to work,” said Michael Praeger, CEO and Co-Founder of AvidXchange. “So much has changed since the company was founded and in anticipation of our 20th anniversary, I can’t think of a better way to celebrate than watching our AvidXchange Music Factory campus grow over the next year.”

Features of the expansion and new building include the following:

Customer Experience Center

Career and Talent Development Center

Indoor basketball and volleyball courts with second level track

Additional fitness center and cardio stations

Technology-driven private meeting rooms

Conference Center facilities and amenities

Coffee café and bistro style food service for employees

The second building is, in footprint, an exact replica of the first AvidXchange Music Factory location completed in 2017. A connecting structure will link together the new building and the existing facility with a central hub including coffee café and bistro style food service for all employees and a 10,000 square-foot roof top common area. As part of this project, AvidXchange will also make enhancements to its current Silver Hammer facilities.

“Charlotte has established itself as a visionary city with forward-thinking leaders in finance and technology and seeing this kind of growth is very exciting for us,” said Charlotte Mayor Vi Lyles. “We are committed to creating new employment opportunities for those who call Charlotte home, and investments like this expansion are helping bring that to life.”

AvidXchange is working closely with Brasfield & Gorrie, LS3P and JLL to complete the expansion. Construction is expected to begin over the next several months with an estimated completion in Q4 2021.

About AvidXchange™

Founded in the year 2000, AvidXchange transforms the way companies pay their bills. Trusted by more than 5,500 customers throughout North America, AvidXchange is the industry leader in automating invoice and payment processes across the real estate, HOA, construction, and healthcare industries. AvidXchange is distinguished as a global fintech unicorn and one of the fastest growing technology companies in the U.S., offering a complete solution designed to help mid-market businesses modernize operations and embrace the future of finance. For more information, visit www.AvidXchange.com.